Wednesday, May 28, 2008

State (Control) of the Economy

There's something peculiar about China telling the West how to run their markets. But then, maybe they've got a point?

Thanks to China’s lack of integration with global financial markets as well as the cautious regulatory approach of the CBRC, Chinese banks have emerged relatively unscathed from the global credit crisis, which so far has caused nearly $380bn of losses at western financial institutions.
Are we in the West just lazy/greedy?

Update: Pascal Lamy, WTO director-general, agrees. Also, "Pascal Lamy" is the coolest name, like, evah.

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